WhenMon, September 30, 7pm – 8pm
For readers of "The Smartest Guys in the Room" and "When Genius Failed, "the definitive take on Brian Hunter, John Arnold, Amaranth Advisors, and the largest hedge fund collapse in history.
At its peak, hedge fund Amaranth Advisors LLC had more than $9 billion in assets. A few weeks later, it completely collapsed. The disaster was largely triggered by one man: thirty-two-year-old hotshot trader Brian Hunter. His high-risk bets on natural gas prices bankrupted his firm and destroyed his career, while John Arnold, his rival at competitor fund Centaurus, emerged as the highest-paid trader on Wall Street. Meticulously researched and character-driven, "Hedge Hogs" is a riveting fly-on-the-wall account of the largest hedge fund collapse in history: a blistering tale of the recent past that explains our precarious present . . . and may predict our future.
Using emails, instant messages, court testimony, and exclusive interviews, securities analyst turned investigative reporter Barbara T. Dreyfuss charts the colliding paths of these two charismatic traders who dominated the speculative energy market. We follow Brian Hunter, the Canadian farm boy and elbows-out high school basketball star, as he achieves phenomenal early success, only to see his ambition, greed, and hubris precipitate his downfall. Set in relief is the journey of John Arnold, whose mild manner, sophisticated tastes, and low profile belied his own ferocious competitive streak. As the two clash, hundreds of millions of dollars in pension and endowment money is imperiled, with devastating public consequences.
Barbara T. Dreyfuss was a Wall Street analyst for twenty years, covering health policy issues. She was part of a five-member Washington, D.C., team that consistently won top honors in "Institutional Investor" magazine's ranking of Wall Street analysts. She was a senior correspondent for "The American Prospect, " and has contributed to "The""Washington Monthly, Mother Jones, " and "The""Veteran."more details» copy to my calendar» (MDGentleReader)